$100 million in bank for SMU Mustangs after joining ACC expansion in this year's conference realignments
The SMU Mustangs were one of three teams, along with the California Golden Bears and Stanford Cardinal, that have accepted an invite to join the ACC in 2024. While the Golden Bears and Cardinal will receive just 30% of their television revenue shares, the Mustangs have agreed to forego their entire share for up to nine years.
The university announced on Monday that donors have stepped up to ensure the program does not suffer by missing out on television funds. In an official press release, they announced that they have raised $100 million in just seven days to support the move.
SMU President R. Gerald Turner discussed the fundraising, stating:
"This is an unprecedented financial commitment from a core group of donors who have understood from the beginning that moving to the ACC will be transformational for our University on both athletic and academic levels. While there is still much work to be done, the ability to rally this kind of support in just one short week demonstrates that SMU and Dallas recognize the excellence of this opportunity and are stepping up to support it."
David B. Miller, who is the chair of the SMU Board of Trustees, added:
"When we announced on September 1 that SMU would be joining the ACC, I was highly confident that we would be able to cover the cost of the transition into what is one of the top three collegiate athletic conferences in the country. To be able to raise this level of support in such a short period of time is astounding. It is an incredible start in our campaign to position SMU to compete for championships. I cannot express how grateful I am for the visionary leadership it demonstrates."
The Mustangs, who are currently in the AAC, are hoping that the move to the ACC will help them build the program. University donors have ensured that they will not be at a financial disadvantage as they do not receive television revenue.
How has the move to the ACC affected the SMU Mustangs?
The SMU Mustangs have reportedly already begun to reap the benefits of the move to the ACC. In the press release, the university announced the extent of those benefits, stating:
"The move to the new conference is also creating additional impact. Mustang fans have responded enthusiastically to the planned move, with men's basketball season ticket sales jumping 30% in the last week and hundreds of new football season tickets being sold as well."
"Notably, the move has immediately raised SMU's profile, with media coverage of the move generating more than $163 million in advertising value in the first three days. In that same small window, SMU also experienced a 103% increase in visitors to its undergraduate admissions homepage."
The SMU Mustangs have struggled to recover after being given the death penalty in 1987 by the NCAA for repeated rule violations. SMU Mustangs, once a proud program, finished three times in the top-10 between 1981 and 1984. However, it hasn't finished in the AP rankings since then. University officials are hopeful that a move to the ACC will turn the program around.